Brazilian Fintech Invests in Bitcoin as Part of New Financial Plan
Meliuz, a leading Brazilian fintech, has taken a bold step into the cryptocurrency world by embracing Bitcoin as part of its treasury management strategy.
The company, which provides cashback services and financial tech solutions, announced that it will allocate up to 10% of its cash reserves into Bitcoin. Its first move in this direction involved purchasing 45.72 BTC for around $4.1 million at an average price of $90,296 per coin.
In an effort to steer this strategy forward, Meliuz has created a new Bitcoin Strategic Committee tasked with overseeing acquisitions and evaluating the potential of Bitcoin as a central asset in the company’s financial structure. The committee’s primary goal is to assess how this move could benefit the company and its stakeholders in the long term.
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The announcement also coincided with a significant leadership change, as Bitcoin advocate Guilherme Bandeira joined Meliuz’s board of directors. Bandeira, who has been a vocal supporter of Bitcoin, believes that the digital asset presents a more reliable alternative to both the US dollar and the Brazilian real.
Although Meliuz is optimistic about Bitcoin’s potential, the company is also aware of the associated risks, including market volatility and regulatory challenges. These risks will be closely monitored by the newly formed committee, ensuring that the strategy adapts to changing market conditions. This move places Meliuz alongside a growing number of traditional financial firms exploring Bitcoin’s role as an investment asset, even as Brazil’s central bank evaluates new regulations around crypto.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
